Insurance
Refund mechanisms to be built into new legislation to protect taxpayers’ money
Insurers used taxpayers’ money to subsidise costs when paying out for pandemic losses by deducting value of state supports such as wage schemes from awards
Refund mechanisms will be built into any new laws where taxpayer’s money is at risk to prevent a repeat of the situation where potentially millions of euro of public money was lost to insurers during the Covid-19 pandemic.
Under plans drawn up by the coalition, refund mechanisms will be built into new legislation where grants or other payments are made using taxpayers’ money, as was the case with supports given to businesses during the pandemic.
